A judge had previously granted preliminary approval of the $3.95M settlement, which removed the option to display offers of compensation to buyer brokers on the MLS
The 4th amended settlement, if approved, would prohibit offers of cooperative compensation on MLS PIN's platform and raises the total proposed settlement fund from $3M to $3.95M
US District Judge Patti Saris asked the DOJ Antitrust Division for evidence that offers of compensation in the MLS are anticompetitive and harm consumers
Plaintiffs and defendant MLS Property Information Network agree that approximately 75% of sellers are opting out of offering compensation to buyer agents in the multiple listing service
A Supplemental Statement of Interest filed on Monday by the US Department of Justice argued that the settlement only offers 'cosmetic changes' to MLS PIN's agent compensation rules
The Department of Justice said a proposed settlement in the major antitrust lawsuit might itself violate federal law and said buyers should negotiate their broker's commission directly
The antitrust enforcer says it 'continues to have concerns' about a proposed deal between homesellers and broker-owned multiple listing service MLS PIN
The homeseller plaintiffs agreed to a 2-month extension of deadlines related to a proposed deal with MLS PIN after the federal agency asked for time to assess the deal's 'competitive impact'
The Department of Justice's antitrust division on Thursday requested a 2-month deadline extension to review a proposed deal between homesellers and MLS PIN, a broker-owned multiple listing service
Judge Patti Saris preliminarily approved the deal after settlement fund restructuring. The case could provide a sneak peek at broader changes pending bombshell commission suit outcomes
Opinion
The most explosive damage to the National Association of Realtors and the overall industry will result if the defendants lose one or both so-called bombshell lawsuits
Judge Patti Saris, of the US District Court in Massachusetts, said she 'loved' the commission rule changes the deal includes, but didn't think the litigation fund was fair for plaintiffs